Exxon Jumping in to Mexico Fuel Market With First U.S. Cargo
- Foreign refiners can now sell fuel without buying from Pemex
- Pemex operated at lowest level in 27 years due to disruptions
Vehicles refuel at a roadside Exxon gas station outside Aurora, New Mexico, U.S., on Tuesday, July 26, 2016.
Photographer: Sergio Flores/Bloomberg
This article is for subscribers only.
Exxon Mobil Corp. is joining Chevron Corp. and other U.S. refiners to supply the newly free Mexican fuel market.
Exxon sent two cargoes totaling 120,000 barrel of diesel and gasoline Wednesday from its refinery in Beaumont, Texas, to a private terminal in San Luis Potosi. The company is moving cargoes along Kansas City Southern Railway Co.’s network and plans to utilize the San Jose Iturbide terminal in Guanajuato state, which is being expanded, to bring in more supplies. Eventually, it aims to move product from all of its refineries along the Gulf Coast.